This chapter reviews the literature on intergenerational risk sharing (IRS). We explore to what extent and how a market …

intergenerational risk sharing (IRS) rule.Through a simulation-based study, we show that the CDC scheme consistently outperforms the … comparable individual DC scheme in terms of risk-adjusted performance. An extensive sensitivity analysis indicates that this …

We explore the benefits of intergenerational risk-sharing through both private funded pensions and via the public debt …

We explore the benefits of intergenerational risk-sharing through both private funded pensions and via the public debt …

This paper examines the optimal allocation of risk across generations whose savings mix is subject to illiquidity in … thus lowers the benefits of risk-sharing. Higher illiquidity then may justify higher levels of risk sharing to compensate …

This paper examines the optimal allocation of risk across generations whose savings mix is subject to illiquidity in … thus lowers the benefits of risk-sharing. Higher illiquidity then may justify higher levels of risk sharing to compensate …

scheme. The central feature of the pension fund model is that equity risk manifests itself in the form of implicit taxes and … to wage-differentials, implying that risk-taking and risk-sharing induces distortions in labor markets. I show that labor …-supply effects impede the pension fund from taking advantage of intergenerational risk-sharing. The analysis provides an economic …

This paper explores the optimal risk sharing arrangement between generations in an overlapping generations model with … endogenous growth. We allow for nonseparable preferences, paying particular attention to the risk aversion of the old as well as … overall "life-cycle" risk aversion. We provide a fairly tractable model, which can serve as a starting point to explore these …

entail beneficial risk-sharing and diversification features However, depending on the pension formula these features vary … significantly for different types of PAYG schemes. We derive individually most-preferred PAYG rules (represented by a risk …